HERCULES — The City Council will hold a special meeting Tuesday to receive several reports and discuss an amendment to a purchase-and-sale agreement on the so-called Parcel C.

The 17¼-acre tract along the extension of John Muir Parkway west of San Pablo Avenue is under contract for $8.75 million to DeNova Homes of Concord, which wants to build 350 high-end apartments there. The amendment essentially extends the time frame of the agreement.

A second amendment, made necessary by administrative delays caused by state legislation addressing the disposition of former redevelopment agency properties, is expected to go before the council Jan. 24, City Manager Steve Duran said in a staff report.

The reports deal with Hercules Municipal Utility operations; the draft General Plan housing element update for 2009-2014; and an analysis of city finances and future revenue opportunities.

The council also will consider extending the sunset date of the Ad Hoc Citizens Advisory Finance Committee by a year, to Dec. 31, 2013, and dropping the term “Ad Hoc” from its title because it soon will complete two years of existence.

The meeting will be at 7 p.m. in the Hercules City Council chamber, 111 Civic Drive.

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